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Office Medical

Mary Washington Healthcare - Cosner

9530 Cosner Dr, Fredericksburg, VA 22408

Listing Price: $5,450,000

Cap Rate
7.39%
Gross SF
19,378
Rentable SF
19,378
Price/Gross SF
$281.25
Occupancy
93.1%
Year Built
2007
Lot Size
3.54 acres

Investment Overview

Mary Washington Healthcare - Cosner is a 19,378 square-foot, three-unit condoized medical office located in Fredericksburg, Virginia. Two out of the three units are occupied and tenanted by Mary Washington Healthcare with a corporate guarantee. There is one other unit owner that occupies the entire second floor which is 21,266 square feet (not included in this offering). The tenant just executed a brand-new five-year lease on a double-net basis. There are two percent annual rent increases and two three-year option periods. The property is strategically positioned with direct access to U.S. 17 (average 19,000 vehicles per day) and close proximity to Interstate-95 (average 88,000 vehicles per day). Adjacent to the asset is a retail corridor (Cosner’s Corner) with national tenants including Target, Publix Supermarket, Kohl’s, Joann Fabrics, Ashley Furniture, Marshalls, and many others. There are two hospitals within 10 miles of the property. Spotsylvania Regional Medical Center, a 133-bed acute care hospital, is directly adjacent to the asset and is a subsidiary of Hospital Corporation of America. Mary Washington Hospital is a 451-bed, Level II Trauma Center and is the flagship for Mary Washington Healthcare, a not-for-profit regional healthcare system and is ranked the third best hospital in the Washington D.C. Metro area and sixth best in the state of Virginia. Fredericksburg, Virginia is a city located halfway between Richmond and Washington D.C. and is one of the fastest-growing localities in the state. As of the 2020 census, the metro population exceeded 28,000. Fredericksburg enjoys robust tourism from having one of America’s most historic downtowns. The city rests on the banks of the picturesque, pristine Rappahannock and Potomac Rivers. Fredericksburg has a highly educated workforce with an unemployment rate under five percent and is consistently named among the best places to do business.

Investment Highlights

  • Brand New Five-Year Double-Net Leases | Two Percent Annual Rent Increases
  • Corporately Guaranteed by Mary Washington Healthcare | Moody's: A3
  • Direct Access to U.S. 17 / Miller Dr (Average 19,000 Vehicles Per Day)
  • Close Proximity to Interstate-95 (Average 88,000 Vehicles Per Day)
  • Adjacent to Spotsylvania Regional Medical Center (133 Beds, Acute Care Hospital)
  • Two Major Hospitals within 10-Miles
  • Fredericksburg is Halfway Between Richmond and Washington D.C.
  • Over 77,000 Full-Time Residents & Average Household Income of $108,624 within a Five-Mile Radius

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Office Medical

Mary Washington Healthcare - Cosner

Listing Price: $5,450,000

Cap Rate
7.39%
Gross SF
19,378
Rentable SF
19,378
Price/Gross SF
$281.25
Occupancy
93.1%
Year Built
2007
Lot Size
3.54 acres

Investment Highlights

  • Brand New Five-Year Double-Net Leases | Two Percent Annual Rent Increases
  • Corporately Guaranteed by Mary Washington Healthcare | Moody's: A3
  • Direct Access to U.S. 17 / Miller Dr (Average 19,000 Vehicles Per Day)
  • Close Proximity to Interstate-95 (Average 88,000 Vehicles Per Day)
  • Adjacent to Spotsylvania Regional Medical Center (133 Beds, Acute Care Hospital)
  • Two Major Hospitals within 10-Miles
  • Fredericksburg is Halfway Between Richmond and Washington D.C.
  • Over 77,000 Full-Time Residents & Average Household Income of $108,624 within a Five-Mile Radius

Investment Overview

Mary Washington Healthcare - Cosner is a 19,378 square-foot, three-unit condoized medical office located in Fredericksburg, Virginia. Two out of the three units are occupied and tenanted by Mary Washington Healthcare with a corporate guarantee. There is one other unit owner that occupies the entire second floor which is 21,266 square feet (not included in this offering). The tenant just executed a brand-new five-year lease on a double-net basis. There are two percent annual rent increases and two three-year option periods. The property is strategically positioned with direct access to U.S. 17 (average 19,000 vehicles per day) and close proximity to Interstate-95 (average 88,000 vehicles per day). Adjacent to the asset is a retail corridor (Cosner’s Corner) with national tenants including Target, Publix Supermarket, Kohl’s, Joann Fabrics, Ashley Furniture, Marshalls, and many others. There are two hospitals within 10 miles of the property. Spotsylvania Regional Medical Center, a 133-bed acute care hospital, is directly adjacent to the asset and is a subsidiary of Hospital Corporation of America. Mary Washington Hospital is a 451-bed, Level II Trauma Center and is the flagship for Mary Washington Healthcare, a not-for-profit regional healthcare system and is ranked the third best hospital in the Washington D.C. Metro area and sixth best in the state of Virginia. Fredericksburg, Virginia is a city located halfway between Richmond and Washington D.C. and is one of the fastest-growing localities in the state. As of the 2020 census, the metro population exceeded 28,000. Fredericksburg enjoys robust tourism from having one of America’s most historic downtowns. The city rests on the banks of the picturesque, pristine Rappahannock and Potomac Rivers. Fredericksburg has a highly educated workforce with an unemployment rate under five percent and is consistently named among the best places to do business.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

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